The New Dollar Coins

The US Mint announced today that they will be re-introducing the dollar coin into circulation next year. But this time, they will be distributing them similar to the recent 50 state quarter series. This time, every year the US Mint will distribute four coins that will have four of our presidents printed on them, in the order of which they served. The process will start with George Washington, John Adams, Thomas Jefferson, and James Madison in 2007. Since a president cannot be featured on currency until at least 2 years after his death, the program is slated to last until 2016, with the issuing of Richard M. Nixon and Ronald Reagan coins. But by then, Ford, Carter, Bush Sr., Clinton, or Bush Jr. could kick the bucket and land on a coin.

I’m excited about this program, mainly because I really enjoyed the 50 state quarter program. I enjoyed the idea of finding a new design for the coin every few months. Similar to how I love it when the US Mint changes designs in the paper currency. For instance, all the new watermarking and slight changes in portrait size and positions in the new $10 and $20 bills.

One thing I’m concerned about is that will people accept the idea of a $1 coin? Its already failed twice in in the past (Susan B. Anthony and Sacagawea coins). I would like the idea of a $1 coin, but I think a lot of people don’t like the idea because they don’t want to carry around all that change. But think of it this way, is it better to be able to carry around four quarters, or one dollar coin? And it’ll be less singles you’ll have to put into your bulky wallet. And if you lessen the amount of bulk in your wallet, your posture will be better when you sit. And with better posture, you will have less back problems. With less back problems, Americans won’t have to go to the doctor as much, thus lowering the amount spent on healthcare each year. Thus the cost of healthcare reduces.

4 Responses

I like how it has the words on the edge, what a nifty idea. They also said that they will be circulating these more than the previous attempts at getting rid of the “good ‘ol greenbacks.” Best part: People will actually see pictures of less well know presidents such as William Henry Harrison, James K. Polk, Franklin Pierce and Rutherford B. Hayes.
Maybe for the next round of interesting currency we can have the Presidential Scandals: Watergate, Lewinsky, Whiskey Ring, Teapot Dome, XYZ, the Iran-Contra and Credit Mobiler. Nah…that’s not quite as good. Think I’ll stick to collecting Former President Jefferson’s nickels.

Many, MANY other countries have “embraced” the $1 coin. Us with the loonie ($1) an even the two dollar coin (toonie) in Canada, the UK with the Pound (Geez, how long has that been in place)? The Euro, France, Germany Switzerland, Ireland etc. all used to have these coins too. The US just has to get up to speed and join the rest of the world 🙂

I don’t think dollar coins will ever be accepted for a great number of reasons like: they are strange, they look like quarters, I’d rather carry a bill than a coin because they are lighter and take up less space, I’ve never spent dollar coins and never will, vending machines don’t like them, there’s no place to put them in the cash register (the $2 bill problem), just to name a few. I’m not opposed to a dollar coin but will probably shy away from using them if I can still use paper.

FYI

My name is Eric and I live in Burke, Virginia.

Here are a few tidbits about me: Chesapeake, Virginia is my hometown; Cheri is my lovely wife; Photography and pool are my most active hobbies; Crohn's Disease is my ailment; Virginia Tech and The George Washington University are the schools I graduated from; Cookies & Cream is my favorite ice cream flavor.

Also, fallenposters is the alias I use on most websites. It was the first username I came up with when joining instant messenger in college. The first thing I saw was the posters that had fallen from my dorm room wall, and the rest is history.